sonali: what about the rest of the elon musk world?pening against a backdrop in which he's facing multiple lawsuits. >> many lawsuits across many different companies. the latest is the sexual harassment lawsuit brought by spacex employees. you also havoc class-action lawsuits and lawsuits involving severance to farmers employees of x this is. who elon musk delights to take reap -- legal risk and when challenged, he fights. he's always been involved in these scandals but what's different right now is you have this new political mix. elon musk is getting closer to president trump as we and others have reported and becoming essentially a more polarizing figure than he was in the past. long-run, that could present some real challenges for tesla which depends on marketing to consumers. sonali: power with more dollars in the bank. thank you so much for breaking it down for us. be sure to catch the podcast of musk inc. which max hosts. coming up, the private credit world joining the bond issuance rush. more on this story in today's wall stree

it is elon musk with the payday tesla with a be better off without him.hings, definitively, he is worth it which seems crazy and asked if you like he is overpaid and so you mentioned the numbers and he was given essentially 12 percent of the stock of standing and that award and if he could make the stucco up, ten — 13 times and he basically did make asarco up ten — 13 times which is why he has that if you million dollars in options. sue and one hand, he did it and he did it because these elon musk we did about that in the other hand, i really don't think that anybody is worth 4 percent of the stock outstanding. so tesla is better off with him despite some of those allegations and you know he sort of uniform and you have to take the good with about. jack: the company is elon musk in many ways so is next is not as if he goes into the office 70s had asthma $50 check. rick: will is receded by the work judge in january officially, she would need to rescind her decision is a okay, the shareholders for the toys most people feel like it is likely but there are st

musk to front run tesla and a.g.n. clearly tesla is keeping very close track of the votes that they do have, and a lot of votes came in yesterday at the deadline to cast a vote. it was late last night, and they've got the votes. i mean, if you believe elon's tweet, and i don't think there's a reason not to, they have the votes on both his pay and on the move to texas. what this means is that many of the very big shareholders that tesla was worried about, either abstained or voted yes. and that's like a super fascinating dynamic, because some of the large funds like vanguard voted no in 2018, and they are the largest shareholder in tesla after musk itself. >> that's what surprised me so much about this vote. you had these large asset managers, such as vanguard, voting in favor of this. do you know anything about why they switched or the sort of strange bedfellows here? >> vanguard has not said anything yet. we don't know for sure how they voted. tim: sorry, "new york times" voted early this morning. >> we've not confirm

tesla is one of six firms run or owned by mr musk. vote comes among a turbulent year for tesla whose shares are down nearly 30% this year as a consumer battle high borrowing costs. the company faces supply chain strains and competition from china, shares are down nearly 16% from the 2021 peek. to unpack, i spoke to karl brauer, an auto analyst and he told me what he thought on what this endorsement means for elon musk. well, i think it's a pretty ringing endorsement. obviously, he wanted to make it look like there was no mystery or subterfuge about his pay package. i think that's what the judge was suggesting in delaware, that he somehow snuck this past the goal line and he wasn't supposed to be getting this kind of money. he made it very clear what the package was. reasserted all of the figures and put it out there for a second vote. and he, according to himself and the figures that he gave us, won by a wide margin. so clearly they�* re endorsing him. all the stockholders are, enough of them are to justify the package. before we get

>> elon musk will be elon musk. there is definitely going to be a lot of talk around this but i think apple's messaging was clear. if you are using ai the way they have shown this and everything they have shown yesterday it will give you a personalize, customize experience, keep most of the things on device. they are not using -- i think there's a lot of confusion. i was looking into this myself. we have our team to verify is it the models being used all apple intelligence and the futures we saw, whether it is the summarization, search. everything on device is based on apple's own ai models. the chatgpt and openai comes in when you are trying to prompt siri for question that siri cannot you see information on your phone to answer. that is the future you will give siri access -- give your permission to access chatgpt. the way they have messaged it it is clear everything you do on the apple device will be secure and even when apple or the device can't use its own on device ai model, will use apples secure cloud to per

elon musk has been clear— competing in. elon musk has been clear on _ competing in.on that. - competing in. elon musk has been clear on that. when - competing in. elon musk has. been clear on that. when they have a list of results, he has been open about the challenges and high interest rates and how thatis and high interest rates and how that is deterrent spending on expensive vehicles like tesla cars. the question now is shareholders, it would seem, if he is right and have voted overwhelmingly in favour, believe he is worth $56 billion and it should still be at the helm of the ceo. he and it should still be at the helm of the ceo.— helm of the ceo. he is the figurehead _ helm of the ceo. he is the figurehead of _ helm of the ceo. he is the figurehead of that - helm of the ceo. he is the | figurehead of that company helm of the ceo. he is the - figurehead of that company he drives and says something on acts and the stock price can move regardless of what the action is. the dull back of production footprint in mexico. there was going to be a gigantic plant within is

our next guest is an elon musk -- the elon musk biographer.. let's get your reaction to the affirmation of the pay package originally awarded in 2018, and now once again put to shareholders. >> well, both amazing but not surprising if true. people who believe in tesla believe in it because of musk, and he's about to come out with a robotaxi, as you just said. he's pushing autonomous driving. he's not betting on buybacks, he's betting on being the biggest, most important technology and auto company in the future. and i was a little bit, you know, surprised that if indeed these figures are right, it's this overwhelming. but it's a great vote of confidence in musk. >> yeah. we should point out, of course, that it will mean significant dilution for tesla shareholders. as much as perhaps 9% given 300 million shares are on option that he will be awarded conceivably. >> we shall also -- let me make a point, we have to see what the delaware court's going to do. the delaware court has done weird things. so this doesn't mean boom he gets a stock right a

would you count musk out? let's say musk wins and musk then pivots.t a certain point they are creating autonomous machines, not vehicles. by the way, nvidia is sensitive to that. they never called it vehicles. it's always autonomous machines. if you get the latest and greatest nvidia chips which he's in line to, then maybe they can come up with things we haven't seen before, which is one of the reasons why i don't want to count him out. you count him out and he has something up his sleeve and he wins the vote, gees, he can offer the same technology to the ai. he doesn't have to just keep it to himself. >> listen, there's plenty of sharing between x the platform, as well xai which they just raised $6 billion. they're using the data from twitter in part to power the large language models they'll put in place. talked about their own orders of nvidia chips and their plan to build a huge data center from tennessee as well, in terms of what was communicated to people on a call about xai when they were in their fund-raising mode. >> i'm just trying to figure

caroline: elon musk coming up. tim: adobe surging. caroline: the g7 in italy as the pope warns on ai. lackluster economic data in the u.s. on consumer sentiment ratcheting up the risk on, risk off concerns in europe, as we worry about the french political situation. nasdaq holding up well. the s&p worse. the cac 40 slumping. i'm ashamed. we've wiped out 200 billion dollars worth of capitalization. that's the size of the greek economy. we are worrying about the political situation and macron. a lot being dissected in europe. euro off .5%. it is not risk off everywhere. small moves for crypto, a volatile asset class. maybe i dial back the never-ending money. tim: no dial back going on in shares of adobe, having their best day going back to '20 after the company reported yesterday. they beat on the top and bottom lines. they raised their profit forecast for the fiscal year. digital media net new returning annual projections above estimates for the current quarter. more on adobe coming up. tesla today, it's the day after the shareholder m

musk had sex with intern on the desk in the office.said that he wants children from her, according to official information from... wikipedia, he already has 11 children by this minute. a third offered to give an employee a horse if she slept with him at work. why a horse? also not reported, perhaps the lady agreed exclusively to diamonds. in general, the workplace situation in musk’s company leaves much to be desired; whether even one accusation will be proven, and what consequences this may have, we will find out soon, with let’s not forget that trump was going to make mask an adviser if he won the election, so this scandal may be intended to discredit. for unfair dismissal, former employees claim they were fired after they alleged rampant sexual harassment at the company, they claim they wrote an open letter to management, which contained criticism of musk and his behavior, on the social network site x in 2022, after which they were fired the next day. head of spacex and tesla elon musk accused of serious crimes in a wall street jour

charles payne on elon musk's threat to ban apple devices at musk's companies.end the war in gaza. is the end of the war in sight? the 10:00 hour of "varney & company" is next. ♪ ♪ we'll be coming back for you one day ♪ investment opportunities are everywhere you turn. do you charge forward? freeze in your tracks? or, let curiosity light the way. at t. rowe price, we ask smart questions about opportunities like advances in healthcare and how these innovations will create a healthier world tomorrow. better questions. better outcomes. ♪ ♪. stuart: a change would do, cheryl kuro. a change would do you good, that's a full line, does not refer to the election, good morning, everyone it's 10:00 o'clock eastern let's g gt stra

elon musk. do you feel that this is too threatening absolutely he deserves every penny he is getting pretty wants a lot more pennies and this is unheard of compensation, i know it represents a course taken the company that's what he wants guaranteed that was when the stock was a lot higher and $56 billion maybe 45 or $46 billion still a lot of money it comes back but is he worth that or is he compensated in enriched enough as a large stakeholder in this company anyway? >> is a great question, look at the stock it went up over the last five years, 12 fold he has reworded his shareholders, tesla was on the verge of bankruptcy, many times in the past, that man put in 16, 18 hours, if he's not that pitted me of entrepreneurship and sweat equity i don't know what is. >> i agree with all of that and i think is a met and turn amazing thomas edison overtime his 13 or 14% stake he wants to double that and that's his wish but then you start to ask one guy controls one out of four shares as an investor in

musk claiming victory. we'll discuss that and the other issues surrounding musk and tesla coming up. >>> but we begin with a check of the markets following the fed meeting yesterday, and this morning softer than expected data, including ppi and jobless claims. the dow in negative territory and the s&p back in positive by two and the s&p up 28. we'll discuss the fed's possible moves, and more people seem tock saying the fed is too slow to react. inflation is slowing and the labor market is softening. let's talk to the chief u.s. economist with morgan stanley. a perfect day to have you on. i don't know if you think we're at an important juncture or not. >> i do think we're at important juncture. share pals said we're being cautious and conservative and the data is slowing. look at jobless claims today. we to think this is a pattern similar to last year were were started to sea the data brake nick at this time but it's already lowering from a different job level. you see the job data. the pace over the next co

caroline: i want to turn to another one of elon musk's companies.here's reporting, this is coming from the wall street journal at the moment that elon musk pursued women working at the company for sex including former intern, citing affidavit signed by this woman and other interviews. what do you make of the reporting for the wall street journal? >> it's a bombshell of a story in these allegations are quite serious. that while running this company he was seeking relationships, sometimes sexual relationships with women who were his subordinates. it is certainly creating these questions about the power dynamics of his companies, not just space x but raises questions about all the companies he's in now and is he abusing his role as the leader, the executive, the person with the power to create these first relationships and these are all again complications, of the reporting looks pretty solid but i just think again it raises these questions for these other companies and for tesla right now they're about to have a big vote, you wonder how much you need

the vote will largely involve elon musk.his brother will not be able to vote in the proxy vote. tesla is campaigning. they are advertising, producing videos, and producing documents like this press release. more importantly, elon musk is tweeting about this all the time. we have seen a lot of sec filings that are essentially elon musk responding to various influencers, pro-tesla bulls talking about the vote. they are trying to reach retail shareholders which is the main base of ownership of tesla. caroline: apparently, they have to decide whether elon musk was galvanized by the stock compensation. >> you have a fear among even tesla bulls that if the pay package is not approved that elon musk could walk away. that is something elon musk has helped stoke by saying there's all this ai stuff, maybe i will do it outside of tesla, maybe not. you have a game of chicken. on one hand, yvonne is saying i am committed to tesla. on the other, he is making these threats. there is a fear that if he walked away, that would hurt the share

tom: that of course was elon musk. we would love to hear from elon musk talking about a. the best person to talk about u.k. politics i would argue. lizzy: not sure we are getting prime minister elon in the u.k. keir starmer is saying he will not raise any of the three main taxes in the u.k., vat, national insurance or income tax. to state the obvious, this is a manifesto pledge, so if they raise those taxes and government, it would be a serious promise -- taxes in government, it would be a serious promise broken, but this does hem in labour fiscally. a 28 billion pound black hole the public finances. the rest of it will have to be covered by public spending cuts. the institute for fiscal study says this manifesto does not detail how to finance a plan that would affect real change -- what effect will change. the institution for government says they are in for a nasty shock because it will not give enough growth fast enough or significantly. my take away from this is they do not want to trade their poll lead for a mandate to do more but this is the post truss economic conse

you're an elon musk fan.you're a big fan of him and how he's led this company. would this all be a big issue if the stock hadn't dropped 25% in the last year? would you also be looking to remove his brother and james murdoch from the sfwhord would the stock have been doing better had it come up >> we've been pushing for independent governance at tesla for years way back to 2018 something that we do at other companies as well. we're a large institutional investor we want to see entrepreneurs start businesses and be compensated, but we believe independent shareholders need to have their interests protected so, yes, that's, why you know, we voted against the re-election of kimball musk and james murdoch. the board of a publicly traded company is there to represent shareholders and provide oversight and not just to do whatever the ceo asks, and it's very rare to have a court overturn a pay package based on the non-independence of the board. that's a real sign there's governance problems here and those are long-te

but ultimately tesla is elon musk and elon musk is tesla. investors spoke loudly. were the _ about the next chapter. who were the people _ about the next chapter. who were the people who - about the next chapter. who were the people who say - about the next chapter. who were the people who say it should not happen, on the other side of the argument? that continues _ side of the argument? that continues to _ side of the argument? that continues to be, _ side of the argument? that continues to be, in - side of the argument? that continues to be, in my- side of the argument? twat continues to be, in my opinion, any illogical argument. what he has done at tesla is historical. voting against it, took it from $100 billion to $1 trillion and those voting against, they are going into hibernation mode and barricades.— hibernation mode and barricades. . , ., ., barricades. prospects now for that autonomous _ barricades. prospects now for that autonomous cars - barricades. prospects now for that autonomous cars to - that autonomous cars to exhilarate, and the robot and cyber

meantime though, i want to take you to another story, and that is musk's pay.oming up on the show. we'll be looking at his potential $56 billion on the line for the ceo of tesla as shareholders are voting on his pay deal we'll be joined by arjen to discuss this more coming up next frosted treat with a sweet kick of confidence. cirkul is the effortless energy that gets you in the zone. cirkul, available at walmart and drinkcirkul.com. >>> welcome back to "street signs. just moments ago we were talking about steve about what's happening at the g7, and we're actually just getting some flashes regarding the ukraine president, mr. zelenskyy he's saying that quicker fighter jet pilot training and plane deliveries are one of the priorities at this g7 summit zelenskyy is present to speak with the other g7 leaders. he was invited by the host, georgia maloney. zelenskyy is saying that obtaining more air defenses and long range weapons and getting approval for use of the frozen russian assets are naturally more of the priorities that they will be discussing later today at

that's the amount that elon musk should get.h regard to this pay package, a court said that this pay package should not be given to elon musk because it was unfair, didn't make sense at the time, then they decided we're just going to hold a second vote anyway. the second vote has gone the way of elon musk and he's set to receive that $56 billion. but there is a high possibility that it's going to go to court again. the same judge could then say okay, you've chosen to really take this on. now you can have it your way, or it can say no, this is still incorrect. and perhaps not let it happen. so there's still a few contentious issues. but just imagine you've just seen ukraine get $50 billion, actually, from the world and the g7 meeting. $50 billion to a whole country, elon musk is going to get that and a little bit more on his own. on the other side, apple reaching that number one spot when it comes to its valuation. so pausing microsoft ever so slightly. it's the $3 trillion club. this is bound to change over some time. it's all b

elon musk reveils in a pay package vote in austin, texas.ormer president trump makes his return to washington, d.c. with meetings with business leaders and lawmakers. it is friday, june 14th, 2024. you're watching "worldwide exchange" on cnbc. good morning. thank you for joining us on this friday morning. we will get you ready for the trading day ahead and a check of the u.s. stock futures with both the s&p and nasdaq once again sitting at all-time highs. look at the futures. pretty interesting pick picture he here. dow is down. it seems to be the trend recently. we saw the s&p dip very slightly into negative territories. megatech is keeping the rally alive with best secretary since in november. look. tech moving higher for the week up about 6%. we also want to take a look at the bond market. yesterday's report on producer prices unexpectedly showed a decline in yields now at the lowest level since early april. take a look at the benchmark. 4.22. just earlier this week at 4.45 when he were talking about the yield. energy oil and riding a fou

on the agenda, elon musk's paypal package.holders approved's pay package and that the move to relocate tesla's legal home from delaware to texas has been approved buy wide margins. here to discuss is bloomberg opinions matt levine and my cohost on the weekly money stuff podcast. we are basically doing the podcast but on tv. we talk about elon musk all the time he tweeted the results, partial, but looking like the results, earlier. could anything changed between now and this afternoon? what is going to happen? matt: you can change your vote until the time of the meeting, so it is completely locked-in. the tweet was pretty informal. not clear his information is correct. but assuming that it is, he seems to have enough votes for both proposals. katie: does it matter? even if the shareholders we approve it, is it just symbolic? matt: i do not think it is just symbolic. oh -- a lot will say that. but a judge found that the former shareholder vote was not well informed. this shareholder vote is probably a bit better informed. so you

musk has confirmed that, posting on x that -- >> but elon musk isn't the only ceo with side venturesiny. let's get to deidre bosa in today's "tech check." what do we know, deidre? >> there's sam altman, his sprawling empire is raising questions of side dealing, conflicts of interest, and the safe development of generative ai. a former board member said one reason the board lost trust in altman is his failure to tell them he owned the openai startup fund. there are at least three others with investments in more than 125 companies. the journal reports that a growing number do business with openai itself, either customers or major business partners. that puts altman on both sides of a deal, raising questions is this the best deal for openai and the responsibiible developm of the industry or the best deal for atman. a group of openai insiders published an open letter calling for better protections for whistleblowers. musk likewise, he's juggling his public and private interests, leading some investors to wonder is he doing what's best for tesla or another venture, like x or xai. and how

musk co-founded open a.i.own from the board in 2018 and critical of the ceo and musk sued over a.i. and altman and among other things. that is really the scene here being set. >> i know you're talking to a lot of different people in the tech space and investors and other skoufs. w executives. is there any validity to all of this on elon musk's claims? >> i think difficult to tell. you look what apple is saying. effectively siri has on outsource some of the queries can can't answer to open a.i. and they are saying your ip address is obscured and in theory that means that open ai won't know where -- which device that query is coming from or where it's coming in and saying it won't store a request. if you're asking siri something that request is open to open a.i. and chat gpt and you get answer back on your apple product. however, no comment here as to what happens to that data. will open a.i. use that data in order to train its models? that is quite likely. but it won't necessarily know where that is coming from

then being pryor titled ultimately as a business from elon musk?e has his hands in many pies, so to speak. and this tesla pie, which is usually seen as pretty much the crown jewel within his portfolio is the one he would like to have more ownership in so he could spend more on. you have the pay package that they're getting a vote on. all of that, if you wanted investors to actually vote positively on that, well, they certainly won't do it if you're taking away the same iowa chips can and the same ai advancement and now you're putting it away elsewhere. so is elon musk robbing peter to pay paul? i want to get arjun's thoughts on this one. he's at the 2020 conference. before we get to your guest, just your thoughts perhaps on this one. i reckon he might be robbing peter to pay paul on this one, and it may not necessarily bode too well for tesla, which has been struggling. >> good morning, arabile. there's two things to say, there's a lot to say, but two things to say. one this speaks to elon musk being distracted with all of these different companies

by the way, musk woodmont want trump very much to be on twitter.truth social platform. there are a lot of strange things going on here. the other piece is that he owns tesla. a company all about climate change and trying to solve climate change. the truth is that president trump has been on the other side of that issue. we will see where all of this goes. president trump if you can remember, did use these sort of informal advisors that lived inside the business world during his presidency. so whether he ends up calling on musk or not, i think remains uncertain. it is worth noting that elon musk was, like many other executives, part of some of these committees that were called to help advise the president in the first term and he ended up stepping off of one of those committees after he decided he couldn't abide by some of the things that former trump was doing when he was president. >> musk is also in the satellite business. in the times the other day, it was saying he is not only in the satellite business but he goes out of his way to impede anyon

musk is concerned with privacy and data being shared with openai. let's bring in our business and tech reporter scott budman, who is at apple hq today. first of all, apple and openai. these are two heavyweights now. are you surprised? are you impressed? what was your takeaway? what was everyone's takeaway out of there? i think it made sense. apple really wants to get into the ai game. it hadn't done it really before now and it does it both with siri, but also with a more established ai company, that being openai, which has a lot of funding, a lot of talented people, and now you can either choose siri or say, hey, i want to use openai to solve this question. and it makes sense for openai as well. now it's on all of these iphones, which gives it credibility. and we will finally find out, really, what are we all going to use ai for? and is it ever going to make money if i guess on track record, if it's one company that can realize, oh, that's why we like it, it would be apple. absolutely we talked about elon musk arguing that this is a privacy issue. v

yes, notably elon| musk's spacex and that was in 2020 so they— musk's spacex and that was in 2020 soand catch up as soon as they can. problem and catch up as soon as they can, .y problem and catch up as soon as they can. , , ., ., . can. so, possibly a relaunch tomorrow. _ can. so, possibly a relaunch tomorrow, another - can. so, possibly a relaunchl tomorrow, another attempt? can. so, possibly a relaunch _ tomorrow, another attempt? tomorrow is the earliest _ tomorrow, another attempt? tomorrow is the earliest but _ tomorrow, another attempt? tomorrow is the earliest but we _ tomorrow, another attempt? tomorrow is the earliest but we will _ tomorrow, another attempt? tomorrow is the earliest but we will have - tomorrow, another attempt? tomorrow is the earliest but we will have to - is the earliest but we will have to wait to _ is the earliest but we will have to wait to see — is the earliest but we will have to wait to see is to what the data says and why— wait to see is to what the data says and why the computer said no. gk, and why the computer said no. ok, comuter and why the co

why does musk need one? those kinds of comments strongly suggest the judge doesn't want to change her mind, and i suspect what will happen is that there will be new set of briefing and the subject will be, did this new vote override or change the decision that was entered? i believe that the court is going to say that it did have an impact, but most likely, what the court will do is say, all right, now the burden is on the plaintiff instead of on the defendant to prove that this was an entirely fair compensation package. and at that point i believe that the court is going to say even if the plaintiff has the burden, the evidence supports finding unfairness. >> okay. >> ultimately the decision will stand. then they'll appeal. >> they'll appeal. what about the reincorporation in texas? does that give them an opportunity to just say, enough with you, delaware, and go down a different road somehow? >> not at this point. because the parties have all assured the delaware court that any further litigation about thi

he remains a fan of musk and the company.atter of corporate governance you had the tesla board share on "squawk box. she says -- she suggested that musk could leave tesla if it is not approved shares up 6.25% ahead of the vote broadcom shares up 13.5% off of what it was earlier today, but big jump after earnings. a lot of announcements from broadcom first, beats on the top and bottom line, a 10 for 1 stock split and a little color in there, they said the company saw 3 billion in revenue tied to artificial intelligence and revenue from bm ware, a company that they acquired late last year, was a big contributor. that stock split takes effect on july sa15th we have goldman this morning, making big calls on fast casual and quick service restaurants. analysts say they focused on brands with concepts that drive traffic and those that made digital investments. take a look. the top picks are your top three. sweet green, starbucks, up half a percent. shake shack up over half a percent. out of favor, we have jack-in-the-box and wendy's

musk calls the plan, quote , an unacceptable security violation.oday, musk dropped a lawsuit against openai after the company published his emails. musk is a co-founder, a migration that's been developing for nearly a decade is turning part of santa cruz beach into a shark park. >> so cal cove is home to dozens of juvenile sharks. this year. shark experts say these small sharks began migrating to the area around 2015, but they say there's are more now compared to the past two years, the cove has earned the name shark park. >> right now, uh- two dozen is one of the reports i got. we haven't seen that many, but there's a lot of pilots and other drone pilots, scanning around. and those are some of the reports. >> so cal cove has also been known for larger shark sightings. back in 2020, well-known surfer ben kelly was attacked there and killed by a shark. the goal of building a better bay area drives what we do here every day, and highlighting those breakthroughs is what we try to do every night. >> at 11:00 tonight, our first breakthrough we found is

i mean, it's like musk.omewhat of a suboptimal article, by the way, about musk and some of his relations with people, but i think when i look at this, i say to myself, well, now, the press is coming around. "the journal" had, like, 17 things that you might like act th -- about that. i do think that what's happened here is that there's a realization, all you had to do was say, do i need to upgrade? the answer was, genmoji. >> b of a did do a survey in terms of who owns what in terms of iphone models. almost three-quarters of the base is at an 11, 12, or 13. >> tim's point. >> it's going to require upgrades to get any of these services. >> he thought, by the way, that the handwriting thing was really important. genmoji, really important. when i send you one about your hair, you can send me one about mr. clean. >> i'm going to be able to personalize my emojis in a much more significant way. is that fair to say? that's going to be very important. it's a -- >> yeah, exactly. but no, i mean, tim and i were, like,

but the board has argued that the pay was necessary to keep elon musk engaged in his duties at tesla.hen his attention could otherwise be dedicated to do as many other companies, including spacex and the social media platform x. and it appears that most shareholders agreed tesla shares ended the de up nearly 3% on thursday following the vote. it's a sign that investors were happy to be paying up to keep musk happy it's also a sign of continued confidence in musk's leadership, despite the sales slump that tesla has experienced in recent months. but it's not guaranteed that just because musk one, this vote, he will get this payday as the issue is still signed, is still tied up in delaware courts but it certainly gives mosque a confidence boost and potentially gives tesla lawyers some points of argument. as they defend this compensation package for musk in court. >> clare duffy, cnn new york no former us president donald trump received and early birthday present with a handshake from frequent critic, cinnamon minority leader mitch mcconnell, the former president, also received a birthday

so, again, we will be hearing from elon musk shortly.y did not give vote perc percentages, so, we don't know by what margin both of these proposals were approved, only that they were approved. and with that, i'll send it back to you. as soon as we hear from elon, anything ofnote, we'll let you know. >> phil, thank you. te t let's get back to the markets now. may's producer price index pulling back 0.2%. that print sending treasury yields falling with the ten-year now at its lowest level since early april. and helped the s and p and nasdaq set a new round of records here. the rest of the reaction of the markets, though, i mean -- it didn't really make much sense. >> yeah. very odd. the bond move, i guess makes sense. and it's interest, we had the call at 12:00, 12:30, we had the conversation about the treasury auction, and it was very good. and yields took another leg lower. so, that argument that i've been making, at least the last couple auctions, is not holding any water. i still think yields probably start to continue to go higher. so

now to the us where elon musk diverted a sizable shipment of ai chips that had been reserved for teslacial media company x, formerly known as twitter according to correspondence from nvidia staffers obtained by cnbc. from nvidia staffers shares in the electric carmaker slipped nearly 1% on the news. michelle fleury has the latest from new york. yes, this move to divert ai chips from tesla could wrangle tesla investors. will it lead to delays in setting up supercomputers to develop fully autonomous vehicles for them instead prioritising ai startup ex ai which is competing against open ai. in response elon musk tweeted that tesla had no place to send the nvidia chips to turn them on so they would've sat in a warehouse for them adding the giga tech expansion will house 50,000 chips or self driving training for the it has become the third most valuable country in the world for its demand for chips as companies race to build ai the timing two timing comes as mr musk are asking shareholders to approve a record compensation package for sterling work writing the electric car maker. it's world

the engineers claim musk fire them as a form of retaliation. spacex called the letter disruptive and said it fired the engineers for violating company policy. the lawsuit also accuses musk of fostering a sexist culture at the company. it says sexual harassment and sexist comments are a frequent issue, and that the company ignores complaints. spacex has not yet commented on these accusations. hunter biden will face a punishment for his federal crimes, but there is a chance the white house could reduce that punishment. a jury convicted hunter biden on three federal gun crimes yesterday. president biden made it clear last week he will not pardon his son, but today, the white house said it's not ruling out the possibility of commuting his sentence. that would leave the conviction intact. but hunter biden would face a reduced sentence. a sentencing date has not yet been scheduled. some mixed news on the economy today. new numbers show that annual inflation cooled last month, which is a positive sign. and it comes as the federal reserve unveiled its

and musk is a tech entrepreneur.things the judge found that i think has gone a little bit unnoticed is the super ceos have some additional obligation because they have so much control over these companies. that is an issue that is going to be fought out and continue to be fought out in the courts. >> you mean they should be held to a higher standards? >> if you read the person in layperson's terms that is kinds of in there because he has so much influence over the board and so much influence over the company. he is such a force that he somehow has an additional obligation. >> is that the truth of any founder of an entrepreneur. >> this is kind of a new question. >> that is weird. what is the higher standards here you're expected to be at? >> that is why you can't really hold on to it. the other side if he is that valuable, then maybe he is worth all of this money. >> anything else that we can take out of this? >> well, just go in to tech and, you know, what we follow all the time and six companies or 30% of the s&p 5

are suing musk are also suing the company.stile environment. they detailed complaints in the 2022. open letter to management the for them or fired. others were terminated after an internal investigation. the letter called on executives to condemn musk's public next to hold all accountable for unacceptable conduct. musk has denied the allegations. >> elon claimed that he was starting much. consider humorous spawn acronym go into what that is. that. got very popular and got repeated all over the workplace and one of the follow-up tweets was do get degrees? which is a joke about size due to the acronym mata of college. so things like were widely shared on internal chat channels and talk about meetings and use as fighter in professional environment. >> it is not clear how much money the plaintiffs are asking for. and space x has not yet responded publicly to that lawsuit. >> coming up next, ukrainian wine makers are visiting california's napa valley to learn how heal war ravaged vineyards the state lawmakers officially passed thei

still ahead shareholders decide the future of elon musk and tesla elon musk printer walk away from theompany if they voted against the $56 billion pay package, kelly o'grady has a story. take a look at the headline in the wall street journal, gen z plumbers and construction workers are making blue-collar cool. is the blue-collar stigma gone, mike road deals with that next. ♪ trading at schwab is now powered by ameritrade, unlocking the power of thinkorswim, the award-winning trading platforms. bring your trades into focus on thinkorswim desktop with robust charting and analysis tools, including over 400 technical studies. tailor the platforms to your unique needs with nearly endless customization. and track market trends with up-to-the-minute news and insights. trade brilliantly with schwab. introducing new advil targeted relief. the only topical pain reliever with 4 powerful pain-fighting ingredients that start working on contact to target tough pain at the source. for up to 8 hours of powerful relief. new advil targeted relief. her uncle's unhappy. i'm sensing an underlying issue. it

stuart: that sort of makes sense comedy of the latest on elon musk's paid battle with telsa? $44.9 billion pay package now they all start the compensation package by throwing out and rolled that elon musk controlled the tesla board and is not entitled to the landmark compensation, many analysts believe shareholders will indeed approve elon musk's pay, the tesla ceo has threatened to develop artificial intelligence elsewhere if he does not get a 25% stake in tesla right now he owns 13%, elon musk could walk away and shareholders vote against him and 40% of the warning of notably slower sales growth in 2024, also on the shareholder ballot the ev makers out of delaware to texas, conservatives made big gains in the european union elections, voters have had it with mass migration and environmental extremism, that's over there, are we in america headed in the same direction and on his way to italy convincing world leaders to help ukraine by tapping billions and frozen russian assets, jacqui heinrich is in southern italy with the full story, she joins us next. ♪ her uncle's unhappy.

in january , musk said the first person had received the company's implant and was doing well.evice is called telepathy, it gives the owner the ability to control a smartphone or computer using thought. in march, the first patient with the implant showed how to play chess with the power of thought. previously, us health inspectors discovered problems with record keeping and quality control of animal experiments at the california center of musk's company. bye then. this only happens in the usa, soon everyone there will have chips in their heads, you just need to meditate, no chips are needed, but chipization awaits all the united states of america, it will further develop in the usa, let are chipped because they don’t understand that we are human and don’t understand what it means to be human, why do we need chips?

musk calls the plan, quote , an unacceptable security violation.ay, musk dropped a lawsuit against openai after the company published his emails. musk is a co-founder, a migration that's been developing for nearly a decade is turning part of santa cruz beach into a shark park. >> so cal cove is home to dozens of juvenile sharks. this year. shark experts say these small sharks began migrating to the area around 2015, but they say there's are more now compared to the past two years, the cove has earned the name shark park. >> right now, uh- two dozen is one of the reports i got. we haven't seen that many, but there's a lot of pilots and other drone pilots, scanning around. and those are some of the reports. >> so cal cove has also been known for larger shark sightings. back in 2020, well-known surfer ben kelly was attacked there and killed by a shark. the goal of building a better bay area drives what we do here every day, and highlighting those breakthroughs is what we try to do every night. >> at 11:00 tonight, our first breakthrough we found is a

it does not include the shares held by either musk or his brother, kimbal musk. it's the unaffiliated shareholders, and we'll have to wait and see. take a listen to ron baron earlier, of course, always been an enthusiastic supporter of mr. musk and as you might expect, believes he does deserve that what is roughly $45 billion worth of stock that was voted yes on back in 2018 but disallowed by a delaware court. >> it's a legally binding contract, and who sued? you had an individual who was a shareholder for hire with nine shares. nine shares. sued. and it took them five years to get the derivative certified, but the class action wasn't, so he doesn't really represent all the shareholders. i think that, you know, it's really unfair the way they're addressing this, and i think that, you know, he earned it, and he deserves it, and he should be paid it. >> won't be the case, but there is this focus on, well, we know he's doing other things as well. this story that we've been talking about is an example of it. there's xai, x, spacex, and you know, if you're an investor